By Robb M. Stewart

OLB Group Inc.'s shares more than doubled Tuesday after the company said its technology is ready to accept Mastercard Inc. and Bitcoin transactions immediately.

In morning trading, the shares were trading at $10.04 after closing the previous session at $4.59. They touched an intraday high of $12.37.

"The recent announcement from Mastercard that it is supporting cryptocurrency should accelerate public acceptance of Bitcoin and other currencies for conducting everyday business," said Ronny Yakov, chief executive of OLB.

The company said its SecurePay Gateway and OmniSoft payment acceptance platform are ready to accept Mastercard Bitcoin transactions. OLB said its platform supports the processing of multiple cryptocurrencies including Bitcoin and Ethereum across all merchant platforms.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

11-02-21 1112ET